The FCAs response to Covid-19

The Financial Conduct Authority (FCA) recently published guidance on how certain regulated firms are expected to deal with customers who are currently (or will be) experiencing difficulties regarding payments due to Covid-19. If the customer was already facing financial difficulties, then previous FCA guidelines would have to be used. The official guidance states that all customers should be treated fairly in compliance with FCA Principles of Businesses 6: “A firm must pay due regard to the interests of its customers and treat them fairly.”